Some Spanish Property Market Good News?

Published on 03/05/2011 in Your Spanish Home

The Spanish property market has made a promising start to 2011 according to new figures from the National Statistics Office (INE).

The latest figures show the market has now expanded 27% since the low of February 2009 and sales, excluding social housing, are up an average of 9.9% in the year to February.

Although transaction volumes are down 42% from February 2007, there seems to be a growing sense of optimism in the market.

In the latest Global edge survey, 57% of Spanish-based readers reported that sales were better than this time last year, with 29% saying sales were about the same and only 14% reporting sales were worse.

José Prado, President of Malaga’s Association of Constructors and Developers takes the optimism one stage further with a prediction of a return to stellar house price growth in a recent interview in the Spanish press.

“There are very few new homes coming onto the market, which will bring down the total number for sale and drive up prices 20pc to 30pc in 2 years,” he said.

The English language media also seems to have postponed its Spanish property bashing with a number of positive articles appearing in the last few weeks in the Telegraph and Citywire

In some coastal areas, overseas buyers seem to be returning to the market. Sales to foreign buyers in Malaga are up 39%, according to the Ministry of Development.

Written by: Moneycorp

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Comments:

Christopher Gamble said:
05 May 2011 @ 15:24

At last there are some serious attempts to accept the realities of the market crash and its causes and to move on with valuable supporting statistics rather than making unqualified and irresponsible broadly sweeping shallow statements about market recovery.
Good to see José Prado referring to research and statistics rather than shooting from the cuff and blurting unqualified propoganda that sounds more like desperation than fact.....and good for him.
I feel the Citywire article (or use of press release) is the most informative....some really interesting statistics.
In other countries especially the USA the industry comes together as a collective to gather and share sales figures and trends.
unfortunately noone would have believed anything the Spanish Property Marketing industry said but now there's a chance for a new way ahead.
Quoting valid and credible market research (albeit from property market practicioners) is an absolute perogative for attracting new investment. Hopefully the days of hype, lies, greed and unreserched subjective hypothesis in the Spanish Estate Agent industry things of the past. The market has aired its dirty laundry and there's no use in denial (although there are many whom are trying to push the boat out way too far with comments such aS 'RETURN TO STELLAR GROWTH!'
And the market can take the rap, serve its penal sentance and then build for the new. Any return to the old 'Klondike Gold Rush' ways will never be forgiven again.



anglo said:
05 May 2011 @ 11:16

Murcia provence is still awash with unfinished and partial properties. So many expats are trying to sell and get back to the UK from there own houses that any glimmer of hope will be seized upoun. The northern buyers now extend to Russia. But sales if any are still cherry picked with prices reduced by 75% of 3 years ago.


Pommette said:
05 May 2011 @ 10:52

Interesting! But it's nNot reached our part of the Costa Blanca yet though. There is absolutely nothing new on the market and there are still at least 4 properties that have been for sale in our village for over 2 years!

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